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Secondary Markets

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@cmplxty
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3 min read

Hi fellow Lions,

Today I wanted to just talk about secondary markets and how they are important for the dollar economy. These markets are also starting to broaden for crypto!

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Mine, Then Yours

The wife, Siena, and I have had a small business going for a few years. Some may know this some may not but now you do if you don't! This business is part of a larger corporation and we are independent contractors for the company, kind of like franchise owners for the food restaurants. This gets us product from the company as they release it but it also exposed us to the open market for things that go out of stock and are sold on the secondary markets. These secondary markets, if you have the right stuff, can be lucrative!

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With anything in business and the economy, there are people who win and those who lose. Siena spends a lot of time hunting through groups to see who is in a position to unload all of their product in hopes that she can get some great deals and scoop up some stuff for us to sell later on. Some of those deals have been pretty damn great to get! We've been hustling our ass off in the regular market side of the company but we finally crunched the numbers on that. It was a pretty low blow to the balls but we spent hundreds of hours doing the stuff, thousands of dollars in product and goodies to send out and it turns out we are at a loss of a few thousand dollars before all of the expenses have been added up. That was tough to see, we were hoping to be at a profit considering all the work we did!

One of the really awesome things though, is that Siena has been collecting those items that people are trying to unload for cheap so they can recoup some money before they close down their business. Often times people sell them for less than 10 dollars each without knowing the value others will pay for them. One of the items is being bid on for 450 alone! People are crazy about these things, limited edition stuff. It's the same as NFT's which is kind of cool, except in the physical world. I know growing up there's baseball cards and Pokemon cards and stuff so there's always collectors for random things. We are glad that we got into the collectors market for this type of info.

In the short amount of time I spent researching the stuff we have as far as prices, taking pictures and posting it, we made more money in 3 transactions than we did in a weekend of selling the new stuff. That was a kick to the nuts for sure lol. It's all relative though, you often need to spend money in order to make money. Sales have steadily rose in our little business since June of last year and have peaked in February, so it will be interesting when we start to do monthly numbers to make sure we are on target and not spending too much versus what we are taking in.

Crypto Secondary Markets

On the same token, it will be a pretty cool day when the awesome NFT's we have in games such as dCity, Splinterlands and some of the others like Crypto Brew Master all age well and gain more popularity in the mainstream folks. That in turn will drive prices for some of the rare stuff a lot of us have accumulated over time to go up. My gold foil legendary cards in Splinterlands are worth some decent money now but when they age another year or two and others start to play, will some serious money be trying to get into play here with it? I certainly hope so!

What do you think about the secondary markets for things like crypto NFT's? There's been a lot of focus on them now in the mainstream with the selling of a Twitter NFT. Will it be a time to shine for Hive?

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